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Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS'...

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Page 1: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 2: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 3: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 4: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 5: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 6: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 7: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 8: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 9: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 10: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 11: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 12: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 13: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 14: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 15: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 16: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 17: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 18: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 19: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 20: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 21: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 22: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 23: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 24: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 25: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

Page 26: Electrosteel Castings Ltd. › esl › investors › pdf › annual-report-2… · DIRECTORS' REPORT Dear Shareholders, Your Directors take pleasure in presenting their Third Annual

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